SAN DIEGO, Nov. 28, 2016 /PRNewswire/ -- The following statement is being issued by Bernstein Litowitz Berger & Grossmann LLP regarding the Barrett Business Services Securities Class Action Settlement.
UNITED STATES DISTRICT COURT
WESTERN DISTRICT OF WASHINGTON
IN RE BARRETT BUSINESS SERVICES SECURITIES LITIGATION, Case No. 14-cv-5884-BHS
This Document Relates To: ALL ACTIONS.
SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION, CERTIFICATION OF SETTLEMENT CLASS, AND PROPOSED SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING; AND (III) MOTION FOR AN AWARD OF ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES
TO: All persons and entities who, during the period between February 12, 2013, and March 9, 2016, inclusive, purchased or otherwise acquired the common stock of Barrett Business Services, Inc. ("Barrett"), and were damaged thereby (the "Settlement Class"):
PLEASE READ THIS NOTICE CAREFULLY, YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Western District of Washington, that the above-captioned litigation (the "Action") has been certified as a class action on behalf of the Settlement Class, except for certain persons and entities who are excluded from the Settlement Class by definition as set forth in the full printed Notice of (I) Pendency of Class Action, Certification of Settlement Class, and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for an Award of Attorneys' Fees and Reimbursement of Litigation Expenses (the "Notice").
YOU ARE ALSO NOTIFIED that Plaintiffs in the Action have reached a proposed settlement of the Action for $12,000,000 in cash (the "Settlement"), that, if approved, will resolve all claims in the Action.
A hearing will be held on February 22, 2017, at 1:30 p.m., before the Honorable Benjamin H. Settle at the United States District Court for the Western District of Washington at Tacoma, United States Courthouse, 1717 Pacific Avenue, Courtroom E, Tacoma, WA 98402-3200, to determine (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation and Agreement of Settlement (and in the Notice) should be granted; (iii) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (iv) whether Lead Counsel's application for an award of attorneys' fees and reimbursement of expenses should be approved.
If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund. If you have not yet received the Notice and Claim Form, you may obtain copies of these documents by contacting the Claims Administrator at In re Barrett Business Services Securities Litigation, c/o Garden City Group LLC, P.O. Box 35133, Seattle, WA 98124-5133, 1-866-224-5076. Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator, www.BarrettSecuritiesSettlement.com.
If you are a member of the Settlement Class, in order to be potentially eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked no later than March 21, 2017. If you are a Settlement Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.
If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than February 1, 2017, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court in the Action and you will not be eligible to share in the proceeds of the Settlement.
Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel's motion for attorneys' fees and reimbursement of expenses, must be filed with the Court and delivered to Lead Counsel and Defendants' Counsel such that they are received no later than February 1, 2017, in accordance with the instructions set forth in the Notice.
Please do not contact the Court, the Clerk's office, Barrett, or its counsel regarding this notice. All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Lead Counsel or the Claims Administrator.
Inquiries, other than requests for the Notice and Claim Form, should be made to Lead Counsel:
BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP
Timothy A. DeLange, Esq.
Niki L. Mendoza, Esq.
12481 High Bluff Drive, Suite 300
San Diego, CA 92130
Requests for the Notice and Claim Form should be made to:
In re Barrett Business Services Securities Litigation
c/o Garden City Group LLC
P.O. Box 35133
Seattle, WA 98124-5133
By Order of the Court
SOURCE Bernstein Litowitz Berger & Grossmann LLP